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Part C - Economic Structure and Performance
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Chapter Cj - Financial Markets and Institutions
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Table Group Cj108-141 - Monetary Policy
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David C. Wheelock
Table Cj141 - High-powered money: 1867-1960
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Cj141
High-powered money
Row
Year
Billion dollars
1
1867
0.852
2
1868
0.775
3
1869
0.761
4
1870
0.758
5
1871
0.776
6
1872
0.782
7
1873
0.783
8
1874
0.801
9
1875
0.783
10
1876
0.758
11
1877
0.757
12
1878
0.763
13
1879
0.752
14
1880
0.897
15
1881
1.005
16
1882
1.124
17
1883
1.184
18
1884
1.189
19
1885
1.233
20
1886
1.195
21
1887
1.257
22
1888
1.309
23
1889
1.318
24
1890
1.366
25
1891
1.433
26
1892
1.529
27
1893
1.514
28
1894
1.569
29
1895
1.502
30
1896
1.399
31
1897
1.524
32
1898
1.721
33
1899
1.806
34
1900
1.954
35
1901
2.070
36
1902
2.143
37
1903
2.257
38
1904
2.406
39
1905
2.470
40
1906
2.628
41
1907
2.869
42
1908
3.094
43
1909
3.123
44
1910
3.177
45
1911
3.279
46
1912
3.346
47
1913
3.421
48
1914
3.532
49
1915
3.686
50
1916
4.204
51
1917
5.059
52
1918
6.078
53
1919
6.620
54
1920
7.187
55
1921
6.539
56
1922
6.283
57
1923
6.676
58
1924
6.874
59
1925
7.026
60
1926
7.123
61
1927
7.172
62
1928
7.123
63
1929
7.120
64
1930
6.937
65
1931
7.319
66
1932
7.786
67
1933
8.163
68
1934
9.132
69
1935
10.735
70
1936
12.244
71
1937
13.443
72
1938
14.618
73
1939
17.646
74
1940
21.480
75
1941
23.314
76
1942
25.466
77
1943
30.042
78
1944
35.692
79
1945
41.750
80
1946
43.925
81
1947
44.658
82
1948
45.817
83
1949
45.092
84
1950
43.208
85
1951
46.258
86
1952
48.592
87
1953
49.400
88
1954
48.650
89
1955
48.258
90
1956
48.633
91
1957
48.975
92
1958
48.933
93
1959
49.450
94
1960
48.850
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